Textainer Group Holdings Limited (NYSE:TGH – Get Rating) declared a quarterly dividend on Thursday, May 5th, Zacks reports. Investors of record on Friday, June 3rd will be given a dividend of 0.25 per share by the transportation company on Wednesday, June 15th. This represents a $1.00 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, June 2nd.
Textainer Group has a payout ratio of 14.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Textainer Group to earn $6.39 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 15.6%.
Textainer Group stock opened at $34.28 on Friday. Textainer Group has a 12 month low of $24.30 and a 12 month high of $41.89. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.35. The business’s 50 day simple moving average is $36.28 and its 200 day simple moving average is $36.72. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 6.41 and a beta of 1.23.
Several hedge funds have recently modified their holdings of TGH. Millennium Management LLC raised its position in shares of Textainer Group by 94.6% in the fourth quarter. Millennium Management LLC now owns 263,823 shares of the transportation company’s stock worth $9,421,000 after buying an additional 128,281 shares in the last quarter. Morgan Stanley raised its position in shares of Textainer Group by 103.6% in the second quarter. Morgan Stanley now owns 220,939 shares of the transportation company’s stock worth $7,461,000 after buying an additional 112,442 shares in the last quarter. Credit Suisse AG purchased a new stake in shares of Textainer Group in the fourth quarter worth $1,363,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Textainer Group in the fourth quarter worth $911,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Textainer Group in the fourth quarter worth $824,000. Institutional investors own 60.10% of the company’s stock.
Several equities analysts recently commented on the company. StockNews.com downgraded Textainer Group from a “buy” rating to a “hold” rating in a research note on Wednesday. TheStreet downgraded Textainer Group from a “b” rating to a “c+” rating in a research report on Tuesday, April 5th. B. Riley increased their target price on Textainer Group from $50.00 to $55.00 in a research report on Friday, February 11th. Finally, Zacks Investment Research downgraded Textainer Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 14th.
About Textainer Group (Get Rating)
Textainer Group Holdings Limited, through its subsidiaries, purchases, owns, manages, leases, and disposes a fleet of intermodal containers worldwide. It operates through three segments: Container Ownership, Container Management, and Container Resale. The company's containers include standard and specialized dry freight, and refrigerated containers, as well as other special-purpose containers, which include tank, 45', pallet-wide, and other types of containers.
- Get a free copy of the StockNews.com research report on Textainer Group (TGH)
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